Mississippi Income Tax
Mississippi has a progressive income tax with rates ranging from 0-5%. Lower income earners pay the lower rate, with the top rate applying to the highest bracket.
Mississippi Sales Tax
The state sales tax rate in Mississippi is 7%. With an average local sales tax of 0.07%, the combined average sales tax rate is 7.07%.
Mississippi Property Tax
The effective property tax rate in Mississippi is 0.67%. With a median home value of $146,800, the median annual property tax bill is $1,009 ($84/month).
Corporate & Business Taxes
The corporate tax rate in Mississippi is 5%.
Other Taxes in Mississippi
| Tax Type | Rate / Amount |
|---|---|
| Gas Excise Tax | $0.19/gallon |
| Cigarette Tax | $0.68/pack |
| Estate Tax | No |
| Inheritance Tax | No |
Key Facts
Phasing out income tax on first $10,000. Low property taxes and overall tax burden.
Compare to Other States
See how salaries compare on our average salary in Mississippi page. Thinking about starting a business? Check our LLC guide for Mississippi. See the current minimum wage in Mississippi.
Financial Calculators
Plan your finances in Mississippi with our free tools:
- Paycheck Calculator — estimate take-home pay after taxes
- Salary Calculator — convert hourly to annual pay
- Mortgage Calculator — estimate monthly home payments
- Home Affordability Calculator — see how property taxes affect what you can afford